Zazu Raises $1 Million to Build Africa’s First Entrepreneur-Focused Digital Bank

Mandilakhe Somdle
Jan 20
4 min read

Portait of the CEO of Adashi, Ahmed. — IMAGE CAPTION: The Zazu Team. *Image: Supplied /* ZAZU

The 2025 AfricArena Grand Summit was packed with energy, and out of the many startups, one shone brightly as a beacon for African entrepreneurs. Zazu, the first pan-African digital banking platform built exclusively for SMEs and founders, has raised $1 million in pre-seed funding from a powerhouse mix of African and European investors. This funding will accelerate Zazu’s rollout in South Africa and Morocco, with plans to expand across the continent in 2026.

A Winning Pitch at the Summit

Zazu’s founders, Germain Bahri and Rinse Jacobs, took the stage at AfricArena to pitch their vision to a room full of investors and ecosystem stakeholders. With a Mercury-style approach tailored for African businesses, Zazu impressed with its traction, strategy, and pan-African ambition. Their story resonated deeply, highlighting the urgent need for accessible, modern banking solutions for Africa’s 50+ million underserved SMEs.

Addressing Africa’s 'Missing Middle'

Africa’s economy is hampered by a phenomenon known as the “missing middle”, where small and medium-sized enterprises are critically underserved. These 50 million businesses, vital to the continent’s GDP, face an estimated funding gap of over $330 billion. This lack of accessible financial services creates significant administrative and growth barriers for modern entrepreneurs, often overlooked by traditional institutions.

Co-founder Germain Bahri notes: "Banks don't help entrepreneurs, they hold them back. For years, we've seen brilliant builders, founders, and freelancers slowed down by the very system meant to support them. Their bank should help them bring their vision to life. Banking should make them feel unstoppable"

Backing from Industry Leaders

The pre-seed round included Plug and Play Ventures, alongside a high-profile group of angel investors and fintech founders, including Zachariah George (Launch Africa Ventures – a close AfricArena friend), Axel Peyriere (AUTO24.africa), Akshay Patel (Paymentology), Ismael Belkhayat (Chari), Sophie Guibaud (Fiat Republic), and founding members from European fintech unicorns like Qonto and Solarisbank. This experienced cap table provides not only capital but strategic guidance to fuel Zazu’s growth.

A Rebundled Financial Operating System

Zazu is positioning itself as a rebundled financial operating system, unifying the fragmented fintech landscape for African SMEs. Instead of juggling multiple standalone apps, businesses can now manage accounts, cards, transfers, payroll, and invoicing from a single dashboard.

Key features include:

Business accounts and cards with customizable roles and limits
Virtual and physical cards for employees
Digital incorporation flow for informal businesses to formalize operations
Cash flow insights and automated financial assistant tools to track runway, set aside revenue, and manage liabilities

By consolidating these functions, Zazu empowers entrepreneurs with seamless financial management and operational efficiency.

Strategic Partnerships and Revenue Model

Rather than pursuing its own banking licenses, Zazu operates on a partnership-first model, collaborating with regulated commercial banks to ensure compliance and speed to market. In Morocco, for example, it partners with Chari, an API-driven banking platform operating under a payment license.

Zazu’s revenue model combines tiered subscription fees, card interchange fees, interest on deposits, and marketplace commissions from partner services like lenders and insurers.

Early Traction and Recognition

Zazu has already demonstrated significant early traction:

100+ SMEs in beta and over 2,000 on the waitlist
20+ ecosystem partnerships, including Paystack, Shopstar, and Ozow
Selected for the Visa Accelerator Program
Finalist for KPMG Enterprise Innovator of the Year 2025
Listed among PwC’s Fintechs to Watch

Why South Africa and Morocco?

Rinse and Germain chose South Africa and Morocco as launch markets due to their vibrant SME sectors, strong fintech infrastructure, and strategic positioning as gateways to Southern and North Africa. Together, these countries host more than 5 million SMEs, representing tens of billions of dollars in annual business payments, making them ideal proving grounds for scalable digital banking solutions.

What’s Next for Zazu

With early traction and a growing partner ecosystem, Zazu plans to open its Seed round in early 2026, inviting strategic investors to join in expanding across Africa and launching new products tailored for entrepreneurs.

Connecting to the AfricArena Network

Zazu’s journey underscores exactly what AfricArena stands for: connecting startups with investors, ecosystem players, and fellow founders to create opportunities that transcend borders. By being part of the AfricArena community, Zazu not only raised funds but strengthened its network, gaining mentors, partners, and advisors who are shaping Africa’s fintech future.

If you’re a founder, investor, or ecosystem player looking to be part of Africa’s most vibrant innovation network, join the AfricArena community today. Together, we can support the next generation of startups that will define Africa’s digital future.

Want to Be Part of the Next Big Thing?

Whether you’re a startup founder looking to raise capital, a corporate ready to collaborate, or just someone who loves being in the room where Africa’s future happens, we’ve got a seat for you.

Apply to the AfricArise Program: pitch at one of our regional summits and get access to investors, partners, and accelerators across the continent.
Join us at the Kinshasa Summit 2026 in the DRC, where Africa’s boldest founders, top investors, and ecosystem builders gather for two days of pure innovation energy.